Lloyd’s insurer Hardy has made a loss after tax of £17.1m for the first half of 2011, compared with a profit of £2m in the same period last year. The loss before tax was higher, at £20.7m, because a £3.7m tax credit reduced the net loss. Hardy’s results were hit ...

Validus chief executive Ed Noonan has hit back at Transatlantic’s rejection of his firm’s offer, accusing Transatlantic’s board directors of “wilfully burying their heads in the sand”. Yesterday Transatlantic issued a statement urging its shareholders to reject Validus’s offer of 1.5564 Validus shares and $8 in cash for each Transatlantic ...